Elon Musk's xAI Secures $15 Billion Funding Round, Reaching $200 Billion Valuation

Musk's xAI raises $15 billion in latest funding round

Elon Musk announced his new company xAI, which he says has the goal to understand the true nature of the universe. Elon Musk's artificial intelligence company xAI has raised $15 billion from investors, sources familiar with the matter told CNBC's David Faber. The funding adds another $5 billion to the $10 billion round CNBC reported on in September, which valued the startup at $200 billion. Sources told CNBC that a lot of the money will fund graphic processing units that underpin large language models. Artificial intelligence startups have reached sky high valuations in recent months as they raise massive amounts of capital to power seemingly endless demand for foundational models.

Elon Musk's xAI raises $15 billion in series E round: Report

Elon Musk's xAI has raised $15 billion in a series E funding round. The AI startup has been ramping up its data center capacity to train more advanced models, as it looks to compete more effectively with OpenAI's ChatGPT and Anthropic's Claude. Billionaire Elon Musk's xAI has raised $15 billion in a series E funding round, CNBC reported on Thursday, citing sources. The Tesla chief in September said the company was not raising any capital after CNBC reported that xAI was raising $10 billion at a post-money valuation of $200 billion. xAI, in what seemed like an automated reply, said "Legacy Media Lies" in response to a Reuters request for comment on the raise. The AI startup has been ramping up its data center capacity to train more advanced models, as it looks to compete more effectively with OpenAI's ChatGPT and Anthropic's Claude.

Musk's xAI said to raise $15 billion in latest funding round By Investing.com

Investing.com -- Elon Musk's artificial intelligence company xAI has secured $15 billion in funding from investors, according to CNBC David Faber's report on Thursday, citing three people familiar with the matter. The latest funding represents an increase of $5 billion from the previously reported $10 billion round in September, which valued the AI startup at $200 billion. The report indicated that a substantial portion of the newly raised capital will be allocated toward purchasing graphic processing units (GPUs), which are essential components for powering large language models that form the foundation of advanced AI systems. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Elon Musk's company xAI raises $15bn, reaching a valuation of $200bn

The artificial intelligence company xAI, founded by Elon Musk, has raised an additional $15bn from investors, according to reports by CNBC. This fundraising, which is in addition to the $10bn mentioned in September, now values the company at $200bn. A significant portion of this funding will be used to purchase graphics processors, which are essential for training large language models. This new round of funding places xAI amongst the most highly capitalized players in the sector, at a time when the race for AI continues to attract massive funding. Anthropic raised $13bn in September, while OpenAI was valued at $500bn after a sale of shares in October. The company led by Sam Altman is also reportedly preparing for an IPO, which could raise its valuation to $1 trillion, Reuters says. At the same time, the link between xAI and Tesla is attracting attention. The automaker's shareholders recently approved Elon Musk's compensation package, estimated at nearly $1 trillion, as well as a resolution authorizing Tesla's investments in xAI. Although the vote's abstention rate was high, Tesla's legal department is currently reviewing the implications of this approval. This decision could pave the way for closer integration between Musk's AI activities and his other technology companies.